Truist acquires ‘key’ data assets, several top employees from Triangle-based Zaloni

CHARLOTTE – Truist Financial is bolstering its data management – from advanced analytics to artificial intelligence – by acquire a data platform from Triangle-based Zaloni. Several Zaloni employees also will join Truist as part of the deal.

The deal was announced early Monday. Financial terms were not disclosed. Founded in 2007, the company has raised some $25 million in outside financing, according to Crunchbase.

The platform is called Zaloni Arena.

Joining Charlotte-based Truist as part of the deal are Zaloni Founder and Chief Product Officer Ben Sharma, Chief Technology Officer Ashwin Nayak. They and a “team of product, engineering and data professionals will join Truist’s Enterprise Data Office led by Chief Data Officer Tracy Daniels,” Truist said. They will remain based in the Triangle.

Zaloni founder Ben Sharma.

“Truist is making investments to continuously grow and evolve with our clients’ banking needs. In partnership with Truist Ventures, we identified the Arena platform as an investment that will help us deliver better financial experiences, advance our strategy and demonstrate our purpose to inspire and build better lives and communities,” said Scott Case, chief information officer at Truist, in a statement.

According to its LinkedIn site, Zaloni has nearly 192 employees and customers around the world. It is privately held.

“Data and analytics are essential to delivering on the needs of our clients, teammates, and stakeholders. I’m thrilled that this deal includes the talented team that built the Arena platform, and that they will continue their data innovation journey as Truist teammates,” said Daniels in the announcement.